2020 North American Residential Backup Power Market
This report provides a current look at the residential backup power market in North America amidst the COVID-19 pandemic. An overview of the residential backup power market in North America (United States and Canada) is provided. The report captures the growth drivers, restraints, market trends, market share by revenue, market share by equipment type (generators, home battery, on-grid home battery, and off-grid home battery), market share by application, market share by power range, market share by power range, competitive supplier landscape, and forecasts to 2026.
The North American residential backup power market is in the growth stage with the presence of several large and small market participants trying to gain a strong foothold in the market. The market is projected to experience a double-digit growth rate during the forecast period. Market growth is expected to be driven by increased customer adoption of energy saving solutions, power outages, and others.
This study aims to provide a detailed analysis on the residential backup power market along with competitive intelligence for the base year 2019. The market numbers included in this study represent revenues generated by companies operating in the residential backup power market. The base year for the study is 2019 and the forecast period is from 2019 until 2026.
The purpose of this study is to provide insights into the North American residential backup power market. These systems deliver power directly to a home’s electrical system and provide backup power for the entire home or essential items, only. This study covers generators powered by gasoline, diesel, liquid propane or natural gas, and batteries based on lead-acid, lithium-ion, salt water, and others. For purposes of this study, the following definitions have been included:
Critical: power loads are essential home appliances, such as refrigerators, freezers, lighting, entertainment, communications and convenience outlets. These are powered through home battery during blackouts and emergencies.
Standby: systems provide whole home power during blackouts and emergencies. Standby generators and home batteries are permanently installed at customer homes.
Portable: generators do not require installation and can be easily moved around the home. Portable generators need to be started manually during power outages and are mostly smaller in capacity as compared to standby systems.
On-grid: power systems are connected to utility grids. They generate and store limited power for homes.
Off-grid: power systems are self-sustaining and work independently in areas where power grids are limited or not available.
Companies included in the research are Generac Power Systems, Inc., Briggs & Stratton Corporation, Kohler Co., Cummins Inc., Honda Motor Co., Ltd., Tesla, LG Chem, Ltd., Inc., Enphase Energy, Inc., sonnen GmbH, Outback Power Inc., and Humless, among others.
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